Hargreaves Lansdown to launch new funds as profits tumble 26%

Performance down across most metrics

James Baxter-Derrington
clock • 1 min read

Hargreaves Lansdown is set to launch a new range of in-house funds in a bid to improve the competitiveness of its products while its profits tumbled over the first half of the year.

According to the platform's H1 2022 results, profits were down 26% year-on-year, falling to £269.2m over the past six months. The company recorded negative change across most performance metrics compared with the same period last year, with net new business down 37%, total assets under administration 9% smaller at £123.8bn and revenue shrinking by 8%. This also led to a reduction in diluted earnings per share, down 27% to 45.6 pence. HL confirmed the total ordinary dividend would increase 3% to 39.7 pence per share, although the total dividend is down on 2021's figure owing to a lack ...

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